New Leeds Building Society mortgage launched

Date:Tuesday 10th February 2009
Author: Rachel Fletcher

A new Leeds Building Society mortgage rate of 3.79 per cent has been made available to property buyers.

With a fee of £499, the product also offers annual capital repayments of ten per cent without penalty, while borrowers will not be penalised for higher lending.

Those who buy the product can enjoy the fixed rate for the first year before switching to a base rate tracker for the next two years.

Another new Leeds Building Society mortgage product offers a variant on this model, with a fixed rate of 4.29 per cent reverting to the base rate plus three per cent for the remaining two years.

This is available at 75 per cent loan to value with a total booking and completion fee of £999.

The news follows the lender's decision to slash the fixed rates on a range of its three-year mortgages.